If I were to make a prediction, I’d think there’s a good chance that it is not batteries. But capacitors.”

Today he may be making good on his prediction. The electric vehicle manufacturer confirmed that it has acquired a small San Diego lab that owns ultracapacitor patents and technology.

Maxwell Technologies provides dry electrode manufacturing technology that can be used to make to make batteries that power electric vehicles and renewable energy systems. The company announced that in an all-stock transaction it will merge and become a wholly owned by a subsidiary of Tesla.